>>> US Gapping up

Gapping up

In reaction to strong earnings/guidance:

  • IRET +6.1%, KMG +6%, RCMT +5.1% (Guidance), URBN +0.9%, (Sales Update).

M&A news:

  • RPRX +40.5% (to be acquired by Allergan plc (AGN) for $0.67/share in cash),
  • ALV +1.2% (concludes strategic review and prepares for spin-off of its electronics segment). 

Other news:

  • PTI +44.7% (announced positive study results across all three of the company's CF pipeline programs),
  • APTO +6.1% (presents preclinical demonstrating that CG'806, a highly potent pan-FLT3/pan-BTK inhibitor, exerts a profound anti-leukemia effect in human and murine leukemia cell lines harboring FLT-3 ITD mutations),
  • ATNM +5.8% (ticking higher after highlighting data at ASH showing CD33 expression in significant number of multiple myeloma patients supporting the rationale for Actimab-M),
  • PGLC +3.3% (announces bought deal of $6.8 million and concurrently announces private placement ),
  • OSTK +3.1% (continued momentum),
  • BA +1.2% (Boeing raises quarterly dividend 20% to $1.71/share and replaces the existing share repurchase program with a new $18 billion authorization ),
  • AGIO +0.9% (presents new efficacy and safety data from ongoing Phase 1 study evaluating oral ivosidenib (AG-120) in patients with relapsed or refractory acute myeloid leukemia and an isocitrate dehydrogenase-1 mutation),
  • YTEN +0.9% (after closing up 180% higher on Monday),
  • EGLE +0.9% (completes $265 million refinancing; extended the maturities of the outstanding debt of its subsidiaries through 2022),
  • GSK +0.9% (reports new data for priority BCMA asset from its emerging Oncology pipeline; 60% response rate),
  • SND +0.8% (files for $200 mln mixed securities shelf offering and 19,078,415 share offering by holders). 

Analyst comments:

  • COTY +3.9% (upgraded to Buy from Neutral at Citigroup),
  • ATVI +2.4% (upgraded to Buy from Neutral at Goldman),
  • NOC +1.7% (upgraded to Overweight from Neutral at JP Morgan),
  • ZAYO +1.7% (upgraded to Overweight from Equal-Weight at Morgan Stanley),
  • TER +1.5% (upgraded to Buy from Neutral at Goldman),
  • FCX +0.9% (upgraded to Equal-Weight from Underweight at Morgan Stanley),
  • ABT +0.7% (upgraded to Outperform from Market Perform at BMO Capital Markets),
  • CAG +0.7% (upgraded to Neutral from Sell at UBS).